Oct 6, 2012 10:00am EDT
, obama and biden want to raise taxes by a trillion dollars, guess what? yes, we do in one regard. we want to let that trillion dollar tax cut expire so the middle class doesn't have to bear the burden of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may be feeling more confident these days, but their employers don't share the optimism. they're worried what's ahead and what's ahead are future tax increases, for small business owners still, these are people that own delis and dry cleaners and pave your driveways, not fat cats and million fairs and billionaires, they're average work people and concerned about the environment. and national independent business
Oct 13, 2012 7:00am PDT
. all the bush tax rates, better than $100 billion worth of spending cuts. they all kick in at identically the same time. think about that, as we rifle through this. top rate on capital gain jumping to 20%. dividend taxed at regular income tax rates. child credit, essentially being slashed. return of the married tax penalty. so for everyone involved, everyone getting socked big-time. it could go on and on i'm going to mention this as you are going to see this throughout the show. to get an idea of how much is at stake, who pays for this? i'm telling you, at the rate we stand, everybody will. every single american family will. anyone paying taxes or expecting to pay taxes will pay more in the new year. all the bush tax rate disappear. and unless congress does to coddle together even an extension and soon, it happens at the stroke of midnight january 1. some economists said this is simply going to cost the economy one full percentage point off the gdp. do the math. one full percentage point is roughly what we are growing right now so that could easily turn us back to a recession.